Related News
Shenzhen Development Bank reports 65% revenue growth, but no dividends
By Hu Xiaocen |
March 9, 2012, Friday
|
Online Edition
Online Edition
SHENZHEN Development Bank Co announced annual revenue growth of 65 percent to 29.6 billion yuan (US$4.68 billion) in its 2011 annual report today 鈥 although the bank still refrained from paying out any dividends.
Net profit rose to 10.3 billion yuan, while earnings per share increased 30 percent to 2.47 yuan, according to the bank's first annual report since merging with Ping An Bank.
President Richard Jackson today admitted that paying money back to shareholders is important for the bank, and added that the bank plans to resume dividend distribution after reaching its capital restoration targets.
Jin Lin, banking analyst at Oriental Securities, explained the absence of the bank's dividend payouts in three consecutive years. "Distribution is subject to the regulated capital adequacy ratio for the banks, that is 8.5 percent. Apparently the bank is still striving to meet the target."
Jackson attributed the bank's rising non-performing loans to a strategic shift towards micro finance, while east China's Wenzhou has the highest default rates among the branches. However 80 percent loans in the area are backed by collateral, he added.
Net profit rose to 10.3 billion yuan, while earnings per share increased 30 percent to 2.47 yuan, according to the bank's first annual report since merging with Ping An Bank.
President Richard Jackson today admitted that paying money back to shareholders is important for the bank, and added that the bank plans to resume dividend distribution after reaching its capital restoration targets.
Jin Lin, banking analyst at Oriental Securities, explained the absence of the bank's dividend payouts in three consecutive years. "Distribution is subject to the regulated capital adequacy ratio for the banks, that is 8.5 percent. Apparently the bank is still striving to meet the target."
Jackson attributed the bank's rising non-performing loans to a strategic shift towards micro finance, while east China's Wenzhou has the highest default rates among the branches. However 80 percent loans in the area are backed by collateral, he added.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
